Additional information : i.Stocks on 31 December 2019 was RM45,360. ii.Fixed assets are to be depreciated at 20% on cost. iii.Electricity charges payable as at 31 December 2019 was RM1,250. iv.Provision for doubtful debts is set at 2%.

Required: a. Prepare the Statement of Comprehensive Income for the year ended 31 December 2019. (12 marks) b. Prepare the Statement of Financial Position as at 31 December 2019. (8 marks)

Question 2 Below is the Trial Balance of L&G Trading as at 31 December 2019 RM RM Capital 300,000 Computer & Software 30,000 Office Equipment 12,500 Motor Vehicles 285,000 Sales 885,500 Purchases 525,000 Sales Returns 3,150 Purchases Returns 1,550 Carriage Inwards 1,450 Fire Insurance 2,640 Rental 72,000 Water & Electricity 24,650 Salaries 108,000 Sundry Expenses 750 Printing & Stationery 880 Telephone Charges 3,430 Opening Stocks 42,350 Incentive 5,700 Discount Received 650 Cash in Hand 2,550 Cash at Bank 19,620 Trade Receivables 74,500 Trade Payables 26,470 1,214,170 1,214,170